US housing starts decline to 9-month low in June

By Tuba Sahin

ANKARA (AA) - US housing starts fell to their lowest level since September 2021, hitting 1.56 million in June, according to the Census Bureau and the Department of Housing and Urban Development on Tuesday.

The figure, which measures the change in the number of new residential buildings beginning construction during the month, was down 2% from a revised May estimate of 1.59 million.

On an annual basis, it posted a decline of 6.3% from the June 2021 figure of 1.66 million.

Building permits, a key indicator of demand in the housing market, declined slightly by 0.6% from a month ago to 1.685 million.

Annually, it represented a 1.4% gain from a year ago when the figure stood at 1.66 million.